8A, Resolutions 2011-012 and 2011-013 for 2011 PMP

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The ass�ssment policy states that the assessment shall be based an the total estirz�ated construction cost, plus associated overhead costs. The policy also states that the City Council shall retain the right to review each project on its own merit and to deviate frorn any �ortion of the Assessment Policy Manual as it deems proper. As part of the feasibilify repart, staff recommended that the confractor's bxd prices are used to calculate assessment rates, as opposed to the engineer's estimate, as stated in the assessment policy. The follor�ving tables show: � a breakdown and comparison of budgeted amounts, engineer's esiimate, and contract prices (bid alternaie is included) « a breakdown of casts to be paid by the City and by assessments • propased assessment rates Funding Source Sudget�d Feasibility Report Contract Prices Watermain Enterprise $ 250,000 $ 198,$00 $ 159,474.23 Sanitary Sewer Enterprise $ 32,500 $ 22,400 $ 16,551.52 Surface Water Maz�agement $ 67,500 $ 91,600 $ 123,406.66 Enterprise PIR/Assessments $ �.,397,000 $ 1,390,900 $ 1,116,54$.70 Total $ 1,747,000 $ 1,703,700 $ 1,�-15,981.11 Tatal amour�i to be assessed (50% of roadr�ray costs) $ 558,274.35 Tota1 amount to be paid b� the City $ 85'�,`706.76 Tota� project cast $ 1,415,981.1 i Proposed Assessment Rafes Assessable Tofal Cost per Cast per Properiy Type Street Costs Costs {50%} Units Unit Unit {Feas. (Low Bid) Report) Single-family * $ 754,113.52 $ 377,056.76 13$.0 $ 2,732.30 $ 3,489.00 Multi- fatnily/townhouse $ 362,435.18 $ 181,217.59 306.0 $ 592.21 $ 699.00 Totals $1,116,548.70 $ 558,27435 * Z�cludes larger properties that can be further subdivided and tax-exempt equivalent uniis. Assessment Roll„preparation City Council Meeting 11Metro-inetlardenhi11s1AdminlCouncillAgendas & Packet Information1201113-14-1 t RegularlPacket lnformationl3-14- 11 Memo_20I 1 PMP_DeclareCosts.doc Page 3 of 6